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Jul 27, 2012, 03.22 PM IST
Vibhav Kapoor of IL&FS says investors will be quite disappointed if the government doesn't act in a month or so. "I think the upside is capped at 5180-5200 on the Nifty in the near-term," he told CNBC-TV18 in an interview.
Vibhav Kapoor of IL&FS says investors will be quite disappointed if the government doesn't act in a month or so. "I think the upside is capped at 5180-5200 on the Nifty in the near-term," he told CNBC-TV18 in an interview.
The Indian rupee fell for a fourth successive session on Wednesday on growing worries of government dithering on policy reform. A month-long session of parliament starts on August 8. While the government does not need parliamentary approval for the reforms, many Congress politicians said the party would find it hard to stomach protests from allies and the opposition. Moreover, Kapoor says the impact of the weak monsoon has not been fully factored in yet. "We cannot rule out 4800-4900 on the Nifty in the near-term," he says adding, "the market direction is unclear at this point". Here is the edited transcript of the interview on CNBC-TV18. Q: We have had a good pullback to yesterdays fall but how much upside would you give this pullback? A: We'll need to wait and see how the global situation evolves after yesterday's statement. But we have seen this time and again. There is volatility in the global markets because of Europe. It is difficult to really go by that. I would say somewhere around 5180-5200 levels would be the maximum. That I would see as a pullback given the domestic situation.
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